At stake is California’s highly-valued ocean economy—worth $43
billion and contributing more than 474,000 jobs to the state, according to a
2010 study by the National Ocean Economics Program. Commercial fishing landings
statewide peaked at over 900 million pounds in 1981 and by 2005 had declined to
297 million pounds due to overfishing and misguided regulation. As catches
plummeted and fishing costs rose, banks in California were increasingly
unwilling to extend loans to fishermen. The
California Fisheries Fund was started in 2008 to help West Coast fisheries
transition to sustainable and profitable fishing.

In 2011 a new sustainable fishing management
program
went into effect for more than 60 species of
West Coast “groundfish” – fish like sand dabs,
sole, flounder and cod - that gives fishermen a secure quota share of the
overall catch. The
new system ‘righted the fishing management ship,’ giving fishermen the right to
catch a certain amount of fish each year and the responsibility to not exceed
it. Unlike the older management system, catch shares give fishermen a
direct investment in the fish stock because as fish populations rebound, the
value of their shares grows.

Environmental sustainability is improving under catch
shares and with the help of the California Fisheries Fund, as a 2012 report from the National Oceanic and Atmospheric
Administration (NOAA) cited
a dramatic reduction in bycatch (unwanted fish or other marine life) and
discards after catch shares implementation. Under the
new catch share program, fishermen have time to fish more carefully and when
weather and prices are best. As a result, they can bring in higher quality fish
for a higher price. Statewide
fisheries landings are improving in California, up to 438 million pounds in
2010, according to the latest numbers from the National Ocean Economics
program.

Fishermen
need financing to switch to fishing vessels and gear that minimize habitat and fish damage and
to target the most abundant species of fish and to avoid threatened species. The
CFF makes loans available to fishermen who are a part of the groundfish catch
share management program, as it provides confidence that the fisheries are
being managed sustainably. Fishermen’s catch share quota can also be used as
collateral for a California Fisheries Fund loan.

The California Fisheries Fund has awarded
14 loans totaling nearly $1.7 million to 11 borrowers, providing fishermen with
promising business opportunities to market fresh, local and sustainable
seafood. Loans have been given to fishermen like Bill Blue in Morro Bay who
used the funds to replace his more than 100 year old boat to make safer, more
efficient trips to support employing his sons and improving his bottom line.
Wild Planet Foods in McKinleyville, CA was also the recipient of a loan which
it used to help process and market fresh, sustainable seafood.

The most recent CFF loan was awarded a loan to Steve
Fitz to catch groundfish in Half Moon Bay, California. With his California
Fisheries Fund loan, Mr. Fitz was able to secure the extra financial assistance
he needed to buy his uncle’s boat, the “Mr. Morgan,” and start his fishing business.
The loan has not only helped Steve Fitz grow his business but also gave him the
opportunity to continue his family tradition of having the only commercial
fishing operation in the United States that uses Scottish Seine gear, an eco-friendly
fishing technique that gently herds fish into the path of light-weight nets
without dragging heavy and destructive gear on the ocean floor.

“My loan from the California Fisheries Fund has benefitted me in
several ways and for that I am grateful,” said Fitz. “It’s allowed me to
purchase my boat, start my business, preserve my strong family fishing
heritage, upgrade my fishing equipment and bring a higher quality and
sustainable product to the dock.”

The Governor’s Environmental and Economic Leadership Award (GEELA) pays tribute to
individuals, organizations and business that have successfully achieved
measurable environmental and economic outcomes in preserving the state’s
natural resources through innovative partnerships. Award recipients are chosen
in different categories based on their success in results,
transferability/scalability, environmental conservation impact, economic
progress, innovation and uniqueness, pollution prevention, public health and
environmental justice.

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Environmental
Defense Fund (edf.org), a leading national nonprofit organization, creates
transformational solutions to the most serious environmental problems. EDF
links science, economics, law and innovative private-sector partnerships.
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